When you want to make your business successful, you need to surround yourself with talented employees. And once you welcome them on board, you have to learn how to keep them around. However, a large salary doesn’t cut it anymore. Instead, you also have to consider any other benefits that come with the role you offer. You should also build and nurture a company culture that encourages growth and development. Your employees should feel heard and supported. Then, they might be more likely to stay with your company and become loyal. Our tips will help you understand how Manchester businesses attract and retain more talent.
Put Competitive Compensation On The Table
Compensation might be one of the first things potential candidates are interested in. Therefore, you should ensure you can compete with the rest of the market. First, start by doing a thorough research and find out the average salaries in the industry. Then, you could adjust it by setting benchmarks such as location, role, and experience. Overall, it’s essential that you pay your employees what they’re worth. If you underpay them, they might not want to stay with your company for long and look for more generous compensation elsewhere. However, you shouldn’t focus only on the salary. It would be best to consider potential bonuses, paid time off, retirement plans and other compensation options that could make your company more desirable.
Pay Attention To Employee Benefits
As an employer, you’re legally required to provide your employees with the following benefits:
- At least 20 days holiday plus bank holiday
- Maternity/paternity pay
- A workplace pension
So, try a bit harder and create a comprehensive benefits package that could make your company more attractive to potential candidates. With the right benefits, you might be able to improve the overall well-being, health, productivity, and job satisfaction of your employees. For instance, you could provide them with a gym membership. Or you could help them to embrace sustainability and offer LV ElectriX’s salary sacrifice electric. That might allow them to overcome any obstacles that might be between them and an electric car. When you put together an attractive benefits package, you might be able to bring in more talent and encourage your employees to stay with you for longer.
Provide Them With Opportunities For Growth
To ensure that your employees want to stay in the organisation, you should ensure they have growth opportunities. When you welcome a new employee on board, you should find out what career goals your employees have. Then, you could create a development plan to help them reach their objectives. You should also sign them up for some training courses. Ensure that they can utilise their new skills in the position and practice them. Finally, you could create a mentorship scheme. Allow new employees to learn from the older members of your team. That might help you to strengthen the company culture and improve the strength of relationships in the workplace.